Empowered Funds LLC Grows Position in Tesla, Inc. $TSLA

Key Points

• Empowered Funds LLC increased its stake in Tesla, Inc. by 11.0% during the 1st quarter, now owning 95,769 shares valued at approximately $24.8 million.
• Tesla reported a net income decline with $0.40 earnings per share for the last quarter, missing analyst expectations, and experienced an 11.8% drop in quarterly revenue year-over-year.
• Recent trades by company insiders revealed significant sales, including Director James R. Murdoch selling 120,000 shares worth over $42 million, reflecting a 14.69% ownership decrease.

Empowered Funds LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 95,769 shares of the electric vehicle producer's stock after acquiring an additional 9,464 shares during the quarter. Empowered Funds LLC's holdings in Tesla were worth $24,819,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Acorn Wealth Advisors LLC raised its position in Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after acquiring an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd raised its holdings in Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after purchasing an additional 36 shares during the last quarter. Capital Management Associates Inc raised its holdings in Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after purchasing an additional 38 shares during the last quarter. Graney & King LLC raised its holdings in Tesla by 18.4% during the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock worth $63,000 after purchasing an additional 38 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. raised its holdings in Tesla by 3.8% during the first quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer's stock worth $278,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA opened at $346.40 on Tuesday. The business's 50-day moving average price is $324.57 and its 200 day moving average price is $301.95. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a market capitalization of $1.12 trillion, a PE ratio of 200.23, a price-to-earnings-growth ratio of 12.24 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter last year, the company posted $0.52 earnings per share. The business's quarterly revenue was down 11.8% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,000 shares of company stock worth $48,663,510. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TSLA shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Bank of America lifted their price objective on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Wedbush reaffirmed an "outperform" rating and set a $500.00 price objective on shares of Tesla in a report on Monday, August 4th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $303.00.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

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